PITTSBURGH (Newsradio 1020 KDKA) - Pittsburgh-based EQT Corporation will lay off about 20 percent of its workforce.
The notice came in a letter today to EQT’s 850 or so employees.
Nearly 200 will lose their jobs.
The letter calls the job cuts difficult but necessary.
CEO Toby Rice took over EQT in a shareholder revolt earlier this year.
The Post-Gazette reports he wrote that the cuts will better challenge, empower and support remaining employees.
No firm date for cuts has been announced.
Employees will reportedly get severance and other assistance.